Purchase
Conventional Loans
The most common home loan, with flexible terms and down payments as low as 3% for some buyers.
What it is
A conventional loan isn't backed by a government agency. It follows guidelines set by Fannie Mae and Freddie Mac, and it's the loan most of my clients use.
Who it's great for
- Buyers with solid credit
- Anyone who wants to drop mortgage insurance later
- Second homes and rentals
Key features
- Down payments from 3% to 20%+
- Mortgage insurance can be removed
- Primary, second home or investment
General requirements
- Credit score generally 620 or higher
- Steady, documented income
- Debt-to-income usually under 45-50%
- Down payment from 3% for eligible buyers
General guidelines only. Every loan is subject to credit approval, underwriting and property review. Not a commitment to lend.
Common Questions
Do I need 20% down?
No. Many buyers put down 3-10%. Under 20% you'll usually have private mortgage insurance, which can come off later.
Can I use gift money?
Yes, in most cases, with a gift letter and some documentation.
Fixed or adjustable?
Both are available. I'll walk through the trade-offs with you.
How long does it take?
Most of my loans close in about 30 days, sometimes faster.
Is a Conventional Loan Right for You?
Let's talk about your situation. Honest answers, no pressure.
NMLS #172296 | Licensed in Colorado